Hackett In $10m Cloud Venture

Australian cloud and hosting services operator UltraServe says it plans to use an injection of capital by South Australian-based Internet entrepreneur Simon Hackett to accelerate its growth in a deal worth up to $10 million.

Sydney-based UltraServe claims to have thousands of servers under management for customers who include e-commerce retailers such as Catch of the Day, Deals Direct, Appliances Online, General Pants and Radio Rentals.

UltraServe founder and CEO Samuel Yeats has reportedly agreed to sell a 40-percent stake in his 14-year-old company to Internode founder - and now NBN Co board member - Hackett.

It says this will enable UltraServe to accelerate international growth, servicing e-commerce retailers in Europe and Asia.